🎯 Having ridden many startup rollercoaster ups and downs, and worked with both phenomenal and , shall we say, “not helpful” VCs, I’ll say the ride or die VCs are the best. 💡For founders nearing end of runway and not seeing the progress needed for a next raise, I’ll add two insights: 1️⃣ Ride or die doesn’t always mean “We’ll support a bridge round.” Sometimes it’s a VC already on your cap table offering you this wise counsel: “Maybe now’s the time to wrap things up with grace.” 2️⃣ Wise counsel from VCs doesn’t always come from those on, or wanting to be on, your cap table. Sometimes it comes from those just wanting to support you as a founder. 🌱 One of the most awesome things I ever heard from a VC was: “I would never invest in this, but I’m a fan of YOU, and I can’t wait to see what you do next. That’s why I took this call.” For me, that VC was Leslie Feinzaig. And that counsel has kept me more motivated that she probably knows. Thank you Leslie for being the OG advocate for female founders! 💐
My email to a founder that I'd like to invest in, re: what makes Graham & Walker special: "Every fund has traditional 'value add', and so do we - big amplification channels, help with press, impressive network that we can name drop etc. But I don't think that's what makes us special. We're the fund you want on your side when things get hard. And they will, in fact, get hard. (And, somewhat ironically, if you don't believe things will get hard, then I don't think we'll want to invest in you). We are ride or die investors. We have a high tolerance for the early, ugly and messy. We're honest with you, but always kind. We shine when it's hard to talk to the rest of your investors. As proof points I offer what some of our founders have to say about us. And some of my writing, both in public (like our values, and the viral article about female founder takedowns), and in private (I'll forward you the email I sent to the whole portfolio late last year). Most importantly, I invite you to talk to any of our portfolio companies, particularly those who have had moments of struggle as well as moments of victory. I'm excited to be on your cap table. Our mission at Graham & Walker is to change the face of the Nasdaq by investing in female founders that can go the distance. I believe you might be one of them."
